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Use the attached “Yellow Leaf Scenario” and “Yellow Leaf Workbook” to complete this task for 2014 data in accordance with GAAP.

A.  Prepare the adjusted trial balance  in the attached “Yellow Leaf Workbook,” including the workpapers and the general journal adjusting entries.FILLER TEXTFILLER TEXT

B.  Prepare the multistep income statement for Yellow Leaf Fashion Inc. in the attached “Yellow Leaf Workbook.”

1.  Prepare the vertical analysis of the income statement with revenue as a base in the attached “Yellow Leaf Workbook.”FILLER TEXTFILLER TEXT

C.  Prepare the schedule for income taxes in the attached “Yellow Leaf Workbook.”FILLER TEXTFILLER TEXT

D.  Prepare the statement of retained earnings for Yellow Leaf Fashion Inc. in the attached “Yellow Leaf Workbook.”FILLER TEXT 

E.  Prepare the classified balance sheet for Yellow Leaf Fashion Inc. in the attached “Yellow Leaf Workbook.”

1.  Prepare the vertical analysis of the balance sheet with total assets as a base in the attached “Yellow Leaf Workbook.”FILLER TEXTFILLER TEXT

F.  Prepare the statement of cash flows for Yellow Leaf Fashion Inc. in the attached “Yellow Leaf Workbook.”FILLER TEXTFILLER TEXT

G.  Complete the following calculations in the “Ratios” tab of the attached “Yellow Leaf Workbook”:

1.  Calculate two financial ratios to assess liquidity.

2.  Calculate two financial ratios to assess activity.

3.  Calculate two financial ratios to assess profitability.

4.  Calculate two financial ratios to assess coverage.FILLER TEXTFILLER TEXT

FILLER TEXT) that analyzes the financial position and performance of Yellow Leaf Fashion Inc. by doing the following:

1.  Explain what FILLER TEXT  of the two activity ratios calculated in part G2 indicates about the company’s financial position and performance.

3.  Explain what FILLER TEXT of the two coverage ratios calculated in part G4 indicates about the company’s financial position and performance.

5.  Evaluate the overall financial position and performance of the company by analyzing the combined effect of the calculated ratios from parts G1 through G4.

6.  Describe two examples of financial areas specific to Yellow Leaf Fashion Inc. (e.g., particular accounts, individual accounting cycles, sections of the financial statement) that could be improved by the president and store managers to benefit the overall future financial position and performance of the company.

a.  Justify how improvement of each  of the two example financial areas from part H6 will benefit the overall future financial position and performance of the company.FILLER TEXTFILLER TEXT

I.  Acknowledge sources, using APA-formatted in-text citations and references, for content that is quoted, paraphrased, or summarized.FILLER TEXTFILLER TEXT

J.  Demonstrate professional communication in the content and presentation of your submission.

 
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